Brexit 'means economy faces 50/50 recession chance' Image copyright Reuters The UK has a 50/50 chance of falling into recession within the next 18 months following the Brexit vote, says a leading economic forecaster.
The National Institute of Economic and Social Research (NIESR) says the country will go through a "marked economic slowdown" this year and next. It says inflation will also pick up, rising to 3% by the end of next year. "This is the short-term economic consequence of the vote to leave the EU", said Simon Kirby of the NIESR. Overall the institute forecasts that the UK economy will probably grow by 1.7% this year but will expand by just 1% in 2017. Prediction: There will be no more billion dollar brands. As Brexit Looms, Prime Minister Theresa May Looks to the Future of British Fa... LONDON, United Kingdom — Just as the Marc Jacobs show was closing New York Fashion Week across the Atlantic, scores of London-based designers, editors, buyers, executives and educators — from Christopher Bailey and Dame Vivienne Westwood to Vogue’s Alexandra Shulman and Browns founder Joan Burstein — assembled yesterday evening at 10 Downing Street, home of the new British Prime Minister Theresa May, as the unofficial kick off to London Fashion Week.
As the ornate room filled with people, guests wondered aloud, “Is she actually going to show up?” And if she did, “what will she say?” The elephant in the room was the UK’s decision to leave the EU following the Brexit vote on June 24. This would be the prime minister’s first opportunity to address the British fashion industry on the subject in a direct way. May was dressed in black, wearing tailored Amanda Wakeley trousers with a now sold-out piece from Palmer/Harding’s collaboration with John Lewis. Designer JW Anderson to bring together art and fashion in new exhibition. Image copyright Getty Images Designer JW Anderson will hope to bridge the worlds of art and fashion when he takes over the Hepworth Wakefield gallery for an exhibition.
At the 2015 British Fashion Awards, Jonathan Anderson became the first person to be named both the menswear and womenswear designer of the year. The exhibition will feature his designs as well as those by the likes of Christian Dior and Jean Paul Gaultier. They will be alongside work by artists like Barbara Hepworth and Henry Moore. The 31-year-old designer has confessed to being "obsessed" with 20th Century British art and cited the likes of Moore, Hepworth and Graham Sutherland as inspirations.
Designers aim for even faster fashion. Image copyright Reuters US designers are adopting the "show-now, shop-now" trend during New York fashion week that allows consumers to buy designs straight from the catwalk.
Tom Ford and Tommy Hilfiger are among those that have followed British fashion house Burberry in making new styles available to buy immediately. Most shows are now live-streamed and featured on social media.